Reportable Segments and Geographic Data (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Financial Data by Reporting Segment

The following tables show data by reportable segment, reconciled to consolidated totals included in the financial statements:


(in thousands)	2022		2021		2020
Net Sales
Machine Clothing	$	609,461	$	619,015	$	572,955
Albany Engineered Composites	425,426		310,225		327,655
Consolidated total	$	1,034,887	$	929,240	$	900,610
Depreciation and amortization
Machine Clothing	19,483		20,191		20,304
Albany Engineered Composites	46,202		50,402		48,496
Corporate expenses	3,364		3,662		3,905
Consolidated total	$	69,049	$	74,255	$	72,705
Operating income/(loss)
Machine Clothing	206,214		215,654		190,805
Albany Engineered Composites	31,579		16,160		31,536
Corporate expenses	(56,771)		(53,803)		(56,261)
Operating income	$	181,022	$	178,011	$	166,080
Reconciling items:
Interest income	(3,835)		(2,500)		(2,748)
Interest expense	17,835		17,391		16,332


Pension settlement expense	49,128		—		—
AMJP grant	—		(5,832)		—
Other expense, net	(14,086)		3,021		13,422
Income before income taxes	$	131,980	$	165,931	$	139,074

Schedule of Restructuring Costs by Reporting Segment

The table below presents restructuring costs by reportable segment (also see Note 5):


(in thousands)	2022		2021		2020
Restructuring expenses, net
Machine Clothing	$	92	$	1,202	$	2,746
Albany Engineered Composites	—		32		2,821
Corporate expenses	14		97		169
Consolidated total	$	106	$	1,331	$	5,736

Schedule of Operating Assets and Capital Expenditures by Reporting Segment

The following table presents assets and capital expenditures by reportable segment:


(in thousands)	2022		2021		2020
Segment assets
Machine Clothing	$	455,390	$	459,182	$	443,476
Albany Engineered Composites	717,972		652,702		713,955
Reconciling items:
Cash	291,776		302,036		241,316
Income taxes prepaid, receivable and deferred	23,134		28,334		44,697
Prepaid and Other assets	153,983		113,810		106,492
Consolidated total assets	$	1,642,255	$	1,556,064	$	1,549,936

Capital expenditures and purchased software
Machine Clothing	$	20,093	$	20,177	$	15,792
Albany Engineered Composites	73,614		31,012		23,718
Corporate expenses	2,641		2,510		2,880
Consolidated total	$	96,348	$	53,699	$	42,390

Schedule of Financial Data by Geographic Area

The following table shows data by geographic area. Net sales are based on the location of the operation recording the final sale to the customer. Net sales recorded by our entity in Switzerland are derived from products sold throughout Europe and Asia, and are invoiced in various currencies.


(in thousands)	2022		2021		2020
Net sales
United States	$	586,779	$	497,231	$	503,473
Switzerland	119,069		128,698		128,328
France	76,826		68,929		55,914
Brazil	66,175		62,925		60,259
China	63,914		67,098		57,007
Mexico	58,519		37,547		39,859
Italy	20,074		21,523		12,424
Other countries	43,531		45,289		43,346
Consolidated total	$	1,034,887	$	929,240	$	900,610

Property, plant and equipment, at cost, net
United States	$	278,500	$	258,453	$	263,201
Mexico	42,320		40,699		41,738
China	33,432		41,039		40,898
France	31,382		33,802		41,107
Canada	14,264		14,139		9,672
Sweden	11,388		12,355		12,109
United Kingdom	9,699		10,156		10,731
Germany	9,562		9,652		10,808
Other countries	15,111		16,122		18,290
Consolidated total	$	445,658	$	436,417	$	448,554